Betting sports...

[Felonious Monk/Fignozzle]

I am not much of a sports nut.  I am even less of a gambler.

But, while I was visiting my folks over the weekend, I had a fascinating experience.
I went and met an acquaintance of my brother who is a professional gambler.

He lives in a gated community, exclusive condo and has all the latest toys.
He has a computer/monitor setup that would do the bridge of the Enterprise proud.  4 state of the art PC's networked into SIX huge LCD monitors, 3 across and 2 deep.

He has done this for somewhere around 6-7 years, and is 31 years old.
He explained that he places bets on almost all college football and basketball games, and a large number of major pro sports, as well.

He talked about finding one of the betting sites he uses which allows him to hedge his bets somehow, so that he either wins BIG, or even if he loses he may break even or come out a few bucks ahead.

The guy eats at Outback or a nicer restaurant every day of his life.
He's also a personal wreck; chains smokes, pops all manner of pills, and has no significant other in his life, so I would not trade places with him, but I asked him if he ever teaches his methodology and he just laughed and said "you don't have enough money to afford me."

Later, my brother explained that he is so focused on placing and following his bets, that he won't talk to anyone on a busy game day.

I'd just never met anyone who really makes a go of that for a living.  Wish I could do just a small portion of what he does for extra money, without the personal cost.

Interesting experience.

[The Rabbi]

I've met stock day traders who exhibit pretty much the same characteristics.  There is no way I would do that either.

[Brad Johnson]

Same here. Some things just arent worth the stress and strain, both personally and professionally.

I always chuckle at people that claim to have come up with "a system". I can pretty much guarantee that the statisticians who figure the bookie's or casinos' long-term averages and risks are better than yours or mine are.

Brad

[grampster]

Obsessive compulsive people are everwhere.  Thank goodness I don't have the O/C jones.

[Monkeyleg]

Lots of similarities between gambling and day-trading stocks, options, or commodities.

My brother has been day-trading stocks and options for several years. He's very good at it.

He's also psychotic, which I've read is a positive for traders, as it takes all of the emotions out of the trades.

[Warren]

I've seen the websites where allegedly you can hedge your bets.


How it works is that there are 1000s of people betting some one side some on the other with the difference is that they are laying their own odds. That is they are the bettor as well as the bookie.

Say you have an event 'X' to hedge you go find find someone who is laying at least 2 to one and bet the team other than the one you are betting on in that way you will make some money back if your main bet fails.

In fact if you can find opposite odds you can make money regardless of the outcome of the bet. Say there is event 'Y' some fellow is laying 3 to one on his team and another fellow is laying 3 to one on the other team. You bet one unit with each and regardless of the outcome you make a profit. Bet two total, lose one but win three leaving you with a one unit profit minus fees.

[Felonious Monk/Fignozzle]

Sounds like what he was describing.

Thing is, he's made 6 figures doing it every year since 1998.
Sort of makes me sick, or envious.

[BobR]

When I lived in Vegas I would make an occasional bet. I always used the Stardust sports book. I would often see the same people there day after day. I could never see the draw to try and make your living at betting sporting events.

The best I ever did was bet on the first Tyson/Holyfield fight very early and got 16-1 odds. Something about an interview Holyfield did made me think he could beat Tyson. So, I went down and put 100 dollars (a big bet for me) on Holyfield.

Turned out to be a good feeling. Holyfield won, and I won.

I had a friend with an addictive personality. Alcohol and gambling. Trust me, that is a vary bad combination.

bob

[Felonious Monk/Fignozzle]

Yeah, I would definitely be in trouble if I got started doing this.  
Better to stay away completely.

[thebaldguy]

To be honest, I gamble quite a bit. I like going to Vegas, but I avoid the local Indian casinos. they are money pits. No free drinks, lousy odds, and the slots pay out much better in Vegas. I like craps and horse racing. I actually do pretty good at the track. If you're careful and smart, you can do ok. Take your winnings and spend the cash on something good right away; a needed appliance, a house payment, debt, etc. Resist the urge to let it ride. If you have some good profits, put it to good use.

Remember, gambling should be entertainment. One time at the horse track, someone asked me about how to get a steady source of income.

I told them to get a job.

[Guest]

I have known some Bookies . Facinating to learn from these folks.

Hard for many to imagine sitting with a Bookie, a Catholic Father, A Jewish Rabbi , a Bookie, and a small town Sheriff Deputy and a Lady whom ran a Brothel in her her younger years having coffee and pie.

People are going to get what they want, no matter the laws enacted.  

Lots can be learned about People and Behaviors from a "coffee and pie" such as the one I mentioned.

I enjoyed going to the Horse Races. I read the Daily Racing Form, I knew owners and trainers, knew some of the Vets, these were customers and friends I met.

I had access to box seats, and often times I entertained clients by taking them or allowing them to use seats I had access to.

I only bet to win, and I do not have to bet every race. In fact I have attended and never placed a bet.  I was there to enjoy the experience, flirt with the mom and daughter that had the shrimp cocktail concession, give Buster a hard time when he piled high that corned beef on my sandwich, Lucy could to a ice cream cone like nobody else and do the "DQ Curly-Q" on top.

I liked route races, and rainy , muddy , snow days too. Rare for me to bet a favorite, except as part of a daily double, or exacta.

I did not care for the Jockey Club, had to wear a tied, but other places had Rooms, Buffetts, Monitors on tables and easy betting right there in/ just off the dining area.

Go visit a trainer, a owner, the paddock , eat great food, watch the people, enjoy my company, and maybe place a bet.

I have been to bigger tracks, and smaller lesser known ones.

A kid of a client, or maybe a friends kid would be asked to pick two numbers. Year they were born, thier B-Day or any two number and $2 for a DD. Sometimes it hit, and a kid gets a big kick out of this.

Bookies provide a service. One kid had hit a DD. One of the horses she really liked the name. Well it was running again in another state and she wanted to try  again, she gave me $2 and asked if would do her a favor.
I called a bookie, and he took care of it. I'll be if she didn't win the DD.

She took that money and bought something for Grandpa and Granma, they had been sick and she wanted to get them new heating pad "they have to share, so I will get another one".

Grandma's will look over glasses at a granddaughter when " yeah I bet the horses again and won, here, you get the new one, and grandpa can have the old the old heating pad"

I don't know, the Sheriff Deputy, the Father and Rabbi thought it was nice...funny as hell, still a nice thing for a kid to do.



Tip:  Lousiana Downs makes some great Gumbo. That said, just because you are craving this Gumbo, not a good idea to have this at 10:30 am, first thing off the bat.  Now the roast is to die for, eat some of that first, then the Gumbo.

Gumbo for breakfast and not being Cajun by birth...

"Yeah, gimme 2 Tums for the Tummy in the first..."